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20121121
20121129
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in return for defying part doctrine they must have changes in social security and medicare. >> i will sign only if they undo entitlement reform. >> reporter: be president has put them on the table before. during last year's failed talks on a grand bargain and more recently in his first post election press conference. >> we have to continue to take a serious look at how we reform our entitlements because health care costs continue to be the biggest driver of our deficits. >> reporter: mr. obama has insisted tax rates must rise. today a top democrat signalled openness to the republican stance. revenue could be raised by closing loopholes and limiting deductions. >> they have to go up either real tax rates or effective tax rates. >> reporter: tax begin this week amid tentative steps toward common ground. >> we can't go off the fiscal cliff. we have to show the world we're adults. the election is over. >> reporter: one ceo of honeywell said there's so much uncertainty hanging over the economy because business isn't confident that washington can go its basic job. he says people like me just are
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